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In contrast, Q1 2010 saw net income of $236.2 million, or $2.97 per diluted share, on revenues of $319.6 million. The mean analyst estimate was for a Q1 2011 loss of $0.61a share.
The homebuilding company saw a 13% decrease in net contracts from the prior year to 792 homes in the quarter.
Ara K.
Hovnanian Enterprises (NYSE:HOV) reported Q1 2011 earnings Tuesday following the closing bell with a net loss of $64.1 million, or $0.82 per share, on revenues of $252.6 million.
Shares are down 5% at $7.39.
Pulte Homes has a potential upside of 18.5% based on a current price of $7.31 and an average consensus analyst price target of $8.66.
The largest U.S. homebuilder by revenue, PulteGroup Inc. (NYSE:PHM) announced CFO Roger Cregg would retire in 2011 after a successor is named.
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From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...
The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market's steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services...
CEO Marissa Mayer is bringing in some more new blood to Yahoo!, tapping Ken Goldman as the company's new Chief Financial Officer. Goldman's appointment will take effect on October 22nd.
Goldman served as CFO at his most recent employer, Fortinet, having worked at Siebel Systems, Sybase,...
